The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1887-12-10

up IN the ndtiuuh ucaouiy ''uitS '"S' o"t''s
that are absolutely needed In the channels
of trade. The evil has been upon us for
ten or fifteen years past, and constantly
increasing; but heretofore safety valve
has been found In the redemption of gov.
eminent bonds, not due, indeed, but re-
deemable AZ the option of the government
This plan, though involving the wrong OF
burdenng the present generation with vast
sums that could very justly have been di-
vided with generation or two 20 come,
has been pursued with very little complaint
from the taxpayers, because they were
periodically willing TO bear II. But the
time has come when this doubtfully just
expedient Is no longer available. There
are no more government bonds TO redeem
The ten or twelve hundred millions of the
bonds vet outstanding have from 10 TO 81
years 20 run. Last summer, indeed, to re-
lieve dangerous stringency In the money
market, and 70 avoid the occurrence, with
out such relief, of an inevitable panic
and wide spread business prostration, the
government availed itself of a power con
ferred by law passed back In the sixties
and relieved the pressure by purchasing
a number of millions worth of bonds In the
open market, paying from 8 TO "a per cent
premium. But II was at best but the exer
else of a very doubtful power, the act hav
ing been passed to aid the credit of the
bonds when they we're below par. But
aside from such objection, the further pur
suit of the plan Is out of the question. II
would only lead TO combinations among
the bond holders TO raise the price to fig
ures, the payment of which by the govern
ment would be absurd.
Various other plans have been suggested
, 70 relieve the treasury Of its plethora, such
as the refunding of the bonds at lower
rate of interest, paying the holders of the
present bonds the difference In cash but
, that would only be the evil OF purchasing
them In the open market In another form
Another suggestion is to deposit the sur
plus In the various banks to be loaned L
, the people, but that would only be to feed
bears already over fattened foam the public
crib. And, lastly, the plan Of relieving
the treasury by eqtravagant and wastefu
appropriations is still less to be thought of
In word there is nothing common
sense and common honesty can suggest but
TO cut down taxation and take from the
shoulders of the people useless burden
that now amounts 10 three dollars year
to every man, woman and child in the
, land, and bears with tenfold more weigh
on the poor than on the rich.
The only two considerable sources from
!, which the government now derives III
= income are the internal revenue tax or
whisky and tobacco, and the tariff tax or
J foreign imports, As the former Is no such
: burden as offers any just claim to relief
and indeed in aid of good morals and
the public welfare, 1t ought not to be in
terfered with; the only recourse left
> therefore, is reduction of the tariff, no,
thoughtIessly and unfortunately, as the
President says, but with sedulous care no
I injuriously to affect the industries of the
county, yet to lop off such features as are
obAGAs abuses or unnecessary burdens.
! Obviously II is not necessary that II
such matter the President should not &C
into details. The wisdom of Congress
must be trusted In that regard. Yet he
! cannot refrain, as a single instance, from
referring to the matter of wool. The ta>
on wool, and It's necessary complement, the
tax on all the manufactures of WOOL Is one
from which the government may derive
, ten or fifteen millions year, but which, a
a very low figure, costs the people, In the
enhanced price of wooden goods 1t occa
sions one hundred and fifty to two hun
, dred millions year. And yet that tax II
really no benefit to the wool grower fo
wool oday Is lower in the market than /
was from 1916 to 1860, when there was NJ
T tax on wool. Nor do the wooden manufac
t turers care for the tax that is given then
as a sop by the wool growers; they woult
infinitely prefer free wool to such "pro
lection" But, by force of 1t resort ha.
been had to shoddy and to a hundred Other
inventions, by which a spurious and vile
substitute has been found for wool, so that
pure wool goes double the length it did
| when honest wool was used In the manu-
facture, accounting in this way for the con
tinued low price of wool, in spite of the
protection"
The scope of the message, however, in
cludes not only wool, but the whole long
list of the 1000 articles now included In
the tariff list, the tax upon which is injur
ious and unjust to all but very limited
circle of beneliciaries.
Yet In this raid on what are strictly the
abuses of the tariff, the President has not
failed to arouse the Ire of the whole tariff.
mOngering brood, who have already SET
up against him the howl of "free trade, y